The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #168 (Bitcoin News Stories) - Bitcoin Gets Political

Episode Date: June 18, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com ⁠Discord: https://discord.com/invite/YgPJVbGCZX A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This show is sponsored by: easyDNS - ⁠⁠https://easydns.com/⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. Check out the other podcasts on the network: The Canadian Bitcoiners Podcast (https://www.youtube.com/c/CanadianBit...) The NHL 94 Podcast (https://www.youtube.com/@NHL94Podcast) Two Whites and a Blue (https://www.youtube.com/@twowhitesand...) Bitcoin and Barbells (https://www.youtube.com/@JoeyBBandBTC)

The Canadian Bitcoiners podcast is just two guys and maybe a guest or two discussing Bitcoin, Bitcoin equities, and the related macroeconomic space. It's not meant to be financial advice, so please, if you're doing any investing, after listening to our program, do your own research, do your own due diligence, and understand that any money you invest can be lost. The show is meant for entertainment purposes only, and friend and co-host Len. Buddy, what's going on over there? How the heck are you? It's going well, Joey. It's going well. Busy, busy time. Summer's finally here.

The weather is finally getting nice and warm. Didn't reach the peaks that they were saying today. I don't want to get into this, though. How red was your local map, your local forecasting map? I got a tan just looking at it. I was cooking my drumsticks on there earlier. You know what? It's a funny thing.

I was telling Daniela this. Here, right here where I am in Oakville, we haven't hit 30th Celsius in 11 months. Wow. Things are changing. Things are changing. Things are changing. The show has two sponsors before we go any further. Easy DNS is sponsor number one. What can I say, man?

You know, if you want to buy a domain, Mark will help you. You want to port a domain over to a quality service that will help you maintain, operate, and build on that domain, Mark will help you with that too. Whatever you need, man, virtual private service stuff, we talk about it every week. Bitcoin is part of the equation over there. Not only does Mark take Bitcoin for the services that he offers, he has a Bitcoin treasury strategy. If you haven't seen his talk from the Canadian Bitcoin Conference this year, you should. Go look. An asymmetric bet, he said, for small businesses. It just makes a lot of sense for businesses to be taking those bets. So he does that.

And anyway, whatever you want to do, BTC Pay Server, I don't know. What else can you do over there, Len? We run a website where we just post text a lot of the time, and it works great for us. But if you want to do something more complicated, he can help you with that too. I've seen the backend that's available on EasyDNS, and there's a lot of stuff. I've seen the backend that's available on easy DNS.

And there's a lot of stuff there that we are not taking advantage of, but you can listen to it. Like migrating your emails. So if you already have emails, yeah. Emails, PGP, GPG, uh, email stuff, uh, for a DNS, uh, sorry for domain name. Uh, there's a lot of different virtual, the virtual private service stuff is the, is the stuff that I think a lot of you guys are using or talking about.

Um, BTC pay server, Nostra relay, Bitcoin notes, all that stuff. You can do it all there. The virtual private server stuff is the stuff that I think a lot of you guys are using or talking about. BTC, Pay Server, Nostra Relay, Bitcoin Notes, all that stuff. You can do it all there. CBP Media is the code. Or just tell them we sent you 50% off. You don't get 50% off anything anymore. Why would you not just go there and buy a domain? Start hoarding domains.

Domains are second best. We say that all the time. That is the second best asset. Okay, let's talk about Bull Bitcoin because they're our second sponsor. I have no idea what the price of Bitcoin is. I'm ensuring I'm on my block. $5.66. There you go. So it's a good time to buy, good time to sell.

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No questions asked. And then you're good to go. You can start buying some Bitcoin from a very cool exchange. There's no better platform. There's no better team. And there's no more committed group to Bitcoin than the guys at Bull. There's no better platform. There's no better team. And there's no more committed group to Bitcoin than the guys at Bull. I promise you that. I promise you that. So use them like we do. Man, Len, housekeeping here up first. You did an interview last week with Mr. Captain Arnome. What a show. That guy shat on us and the podcasting space for probably the first

half an hour you sat there silently not defending our honor there's no i've done what i could no no he he has he doesn't like certain things he doesn't like influencers type and i don't want to speak for him obviously you can listen to the show but i'm happy that i was able to talk to him and bring him on to show up because he brings a different type of viewpoint as a bitcoin he's been in the bitcoin space for a long time much much longer than you and i have joey and we've been in this since 2017 so he's seen a lot of garbage come and go but he also on the political spectrum he's sitting on the left side so you don't tend to have this as a bitcoin especially somebody

that's been in the bitcoin space for a very long time so i was very thankful to have him come on a show he wants to come back again so we could chat some more because you know what i would be happy to chat with him but one thing he wanted to talk to you as well joey maybe we could we could have you come on as well and then i'd love to yeah i'd love you know what he's uh yeah he he's i mean he's speaking i felt like a couple times there he was speaking directly to me um you know not not on purpose but you know he's sort of disagreeing with a lot of things that i've said on the program and i think a lot of people um a lot of people share some of those views and i think a lot of people share his views too i did send him a message on Discord. So ifiction, Square Dealer.

And even if I disagree, I want to hear your point of view. Actually, tomorrow, to continue the housekeeping here, SB is going to come on at 7. We're going to do a Tuesday show. He's got a lot to say. Him and I talk every day about miners and strategy and some of this Bitcoin versus TradFi stuff. We agree on a lot, but we disagree on a lot of things too.

So that's going to be a really good episode. We'll talk coin, we'll talk MSTR, and we'll talk about a lot of this sort of traditional equity link to Bitcoin. That's going to be a heater, I promise you that. And next week we have... Am I due next week too, or am I off next week? No, I'm taking next week. I think it's the Wilson mining.

Yes, yes, yes, yes, yes. You're right, you're right you're right so yeah anytime you know we have somebody that's going to be talking about mining i'll be happy to chat with them it's a good discussion it's prevalent especially nowadays what's going on with uh the united states and that's going to be a topic of discussion but yeah i look forward to this and i'll be fine so tomorrow it's going to be um you talking about mstr and a few other things um and next week we'll be talking about mining so yeah this will be fun yeah i'm looking forward to it i'm just going to pull up the calendar here for the show we can talk

about what we have coming up uh on the interview side so july 3rd uh i don't want to say who that is yet because i don't know 100 whether we're going to do it or not is that a mining thing again no it's not but i see an email from the person who were oh yes uh and then the other one we booked is michael geist michael geist will be on the show on the 23rd of july uh i will release a madex show probably the week of the 17th if i had to guess and yeah so there you go we have a lot of stuff coming up summer's usually slow but i think it's going to be about the same speed as the rest of the year this time it's always pedal to the metal here yeah i know can't slow down cancel down you want to do some boosts what do we got yeah okay we'll start off with wartime sent over 333 sats and he writes in with the mr r gnome uh rip we had he said stop listening at they need to be

de-platformed and also i'm a lefty yeah we could smell it oozing out of him from the beginning it's too bad you didn't stick around to the end because it was a at least i thought i have a good riff and yeah i listened to the whole thing i thought it was good i mean but i do understand i mean the the thing is people in bitcoin and i think people more generally now you know if you look around the world have a lot of ptsd when it comes to liberal politics and mr gnome mr r gnome i don't think't think he's not quite as left-leaning as some prominent left-leaning figures, let's say. He's a

rational guy, and I think a lot of the stuff, like I said, even if I disagree, I appreciate that he's at least given us some thought and has a position that he didn't just come up with in the last hour. So yeah, listen to it. Give it a shot. You're going to enjoy the show. MoeBTCDick, 500 sats. He he says chiming

to say i'm officially stored on a cold card queue via air gapped he said the relief is even greater greater than i expected i've never used the queue if it's because i keep forgetting to order it that's why i keep ordering it to be ordered on our side but either way if it's the same thing in terms of the process as the cold card which i expect it is but i can't verify that um if anybody needs help with the queue i'll be happy to provide them what knowledge i have with respect to the cold card you know the mark four so again good on you mobi tc dick for doing this doing the air gap that's the proper way to store bitcoin in my humble opinion our humble opinion and so if anybody needs help with this feel free reach out to me i'll be happy

to give you a one-on-one i'm not charging anything it's just free but you know um we'll just get people on the right track and point it in the right direction yeah love that what else we got some user writes in with a you know an unknown name um thousand sats he says thank you for this pure signal he says greed and hype are the enemies of freedom and bitcoin that's with respect to the mr arnome yeah uh rip um sir snacks a lot 1316 sats he says a boost towards the cpp podcast tour to compete with tucker carlson we need a lot more sats than that you know throw a few zeros on that yeah but even if you did i probably wouldn't do it so don't do it please don't

save it for yourself which like a relatively unknown cough syrup can we get to sponsor the second half of the you know podcast with like a fledging like 30 followers on twitter something either like we got to go either with the relatively unknown street side pharmaceutical or some kind of like very well-known ammunition dealer or something like that that's what all the right-wing podcasts are sponsored by like some off off the beaten path medicinal treatment or ammunition it's always one of those two things actually gold bars is another one i hear gold bars a lot when i listen to the right-leaning podcasts yeah not too much for i show gold bars no we can't we can't i don't believe in it anyways m flux the last one he this is the last boots so m flux 2169 sats great numbers here we got the 316 and the one before and now the 2169 this one love

it he writes in what is it about reddit users that make them so arrogantly confident in their opinions the wall must be very smooth inside the reddit echo chamber yeah i don't know i i i don't think mr r gnome is cut from the same jib as most reddit users i mean i don't go to like our politics anymore um but i might during the election. We'll see. It's going to be a lot of fun there. That's going to be a ton of fun. Yeah, it's going to be fun during the election. I don't know. Reddit users... I think Reddit is a shithole, honestly.

I never go there. I go to the few subreddits niche that I won't even mention on the air. But probably you guys can guess what some of them are. I don't really go any other places i also don't even go to the bitcoin stuff on reddit anymore because i just don't think it's good signal like i'm in a couple of telegram chats a couple of signal chats that's

where i get most of my stuff i'm in the bitcoin discord um but you know i don't look at it that often although i should right what is that uh live or voice chat thing they do? Coffee and Bitcoin or something like that you were telling me about? Beers and Bitcoin. This is on the Bitcoin Discord channel. If you want to see and have some high signal discussion about Bitcoin, I highly suggest check it out.

Discord, Bitcoin, and periodically they have these beers and Bitcoin. It's not on a schedule. It's just as the topic comes up, let's have it, let's do it, and we just chat away. And it's really totally recommended for everybody out there that wants to just go dive deep in this rabbit hole.

That's a great place to go down. Yeah, I might check it out. I do want to talk to a couple of those guys. I mean, it's always good to have a conversation if you disagree with somebody, and as long as it's civil, it can be productive. So yeah.

Anyway, that's good. Um, it is always civil. I've always found over there, as long as you're not shilling trash, shit coins or whatever. So as long as you stick toward on the message,

you're accepted, you're accepted. You'll be able to talk it. You may disagree on something, but it's people disagree. That's fine. And it to talk it you may disagree on something but it's people disagree that's fine and it's i would totally recommend the next time it's on i'll send you to lynch and you can join in if you want sure benny in the chat saying he gets wild like now i really gotta listen in i don't say it gets wild it's it's in depth um okay okay but yeah i've

seen benny on there a few times um at least on under the uh that's one of the people listening in the audience i don't think he's been on stage we gotta start a beers and bitcoin in the um cbp discord although it'll probably be coffee and bitcoin i don't drink beers often enough to have a beers and bitcoin regularly but coffee and bitcoin i would do i drink coffee maybe once every two weeks so it's tough for you that's not a bad schedule we could do once every two weeks when i have my coffee the only time i have left really is like sunday mornings so have to be you have to give up your your sunday morning worship take a day off from reciting decades of the rosary and come talk about uh whatever the latest bip is i don't know what it is i don't know i'm not sure anyway let's go on let's talk about some Bitcoin related stuff.

There's some stuff going on. Sure. Donald J. Trump making some waves in the world of Bitcoin this past week. And there is the hat. I love it. Busted out. And when I'm talking about a wave, it's truly a wave, not a ripple.

And this is a pun to you. XRP folks. Trump came out this past week to say that Bitcoin mining needs to be looked at more seriously. And he wants the industry to remain, grow, and thrive within the borders of the United States. And with that declaration, we now have Bitcoin mining entering the world of politics. I'm not talking about a developing nation like el salvador it's entered the political realm of united states of america and this is coming from a u.s presidential candidate no less and through all accounts that i could see he's got probably a

greater than 50 chance of winning the next election so this is interesting so i did not have this on my bingo card in 2024 and i'm not ashamed to admit i didn't have it so but that's ali crowe there but let's dive deeper into this because trump does mention that bitcoin mining is our last chance or last line of defense against a cbdc i tried thinking about this long and hard i'm not sure what the connection is between the two. I could argue that, you know, Bitcoin does not have any measurable way to defend against a CBDC. That's the way I would argue.

Maybe theoretically, for instance, you could have a CBDC with a Bitcoin-backed dollar. So there's a universe where you have both of these things that are adopted and used in tandem so it goes back to leading you know how does this protect against the cbdc i'm talking about bitcoin i don't know maybe i'm missing something in the whole picture you know i'm sitting here in a basement so clearly i'm not seeing everything but yeah there's something there's possibility i missed something i'd love to know what i missed but either way let's talk about the more important

thing of this any the main part of the message which is the bitcoin mining stuff. I'd love to know what I missed. But either way, let's talk about the more important thing of this and the main part of the message, which is the Bitcoin mining stuff. And I'd love to know what part the federal government can play with pushing a Bitcoin narrative, either pushing it or maybe hindering its adoption. So I went down deep in this. I think there's two extreme scenarios i came up with so one would be the federal government simply bans its citizens from holding or transacting bitcoin they could impose also a ban on bitcoin mining so that's one end of the spectrum and the exact opposite end you could have the government say that they consider bitcoin as a hybrid currency and commodity right and you can see them they allow their markets to get exposure and ETFs also allow their citizens to use that as a medium of exchange without being subjected to capital gains taxation.

So that's the other end of the spectrum. So those are the two extremes I can see how the US federal government can react with Bitcoin. So the question remains here, where does this whole announcement, this whole Trump announcement fall within that spectrum? There's an argument that could be made

that it's closer to where it's accepting Bitcoin and having it, you know, no taxable gains applicable to it. So that could be, you know, maybe a step in that direction. But it does raise some questions about the concentration of Bitcoin mining, especially in one

jurisdiction we've talked about this before on this channel a lot of times we're both in agreeance i believe i don't want to put yours in your mouth but i think we're both in agreeance that we would like to see this industry spread throughout the globe yeah but but there's a huge but here maybe this trump announcement gives some sort of seal of approval for Bitcoin mining on a global scale. And maybe this helps usher in a new golden age of Bitcoin mining where it could be done more broadly, you know, where people want to keep up with the Joneses. Well, in this case, it's the United States. So another thing about this announcement that's interesting is it could be the planting of the Bitcoin flag on the right side of the political spectrum, because now you have Donald Trump talking about this. And, you know, every time something is done like this, the Democrats demonize whatever he says and vice versa to whatever Democrats says.

Typically, Trump says I'm generalizing here. It's not always the case, but for the most most part there's a lot of truth to that so with this announcement does this automatically make bitcoin mining a thing that the democrats don't like because if you recall not too long ago we had the proposal from biden about the 30 tax exercise tax on bitcoin miners exercise tax excise tax also you probably listen i've seen a lot of americans you probably also needed some kind of exercise tax too i would say so but i don't know exactly like what happened with this this didn't pass it's not yet but it's i guess on a table right like it's still a thought in some people's minds but even with that budding the waters we now have news that team biden they're they were

attending a bitcoin roundtable with key congressional officials in dc very interesting stuff they're working with coinbase to take uh donations through coinbase commerce too yes can you fucking can you i i gotta this is, these people tried to bury Coinbase six months ago. And now they're in bed with them accepting donations through their platform as a way to collect money. Seems very interesting, right? Why would they do this? You know, this now, at least from what I'm looking at it, it may be getting to the point. This is Bitcoin and Bitcoin mining.

Maybe looked at or viewed positively by these major candidates. Or maybe they're just trying to pander to a group of growing constituents out there that could potentially move the political needle. But as for Trump, let's go back to that. You know, maybe he's opened his eyes to this. I don't know. Maybe, maybe not. If you recall, he's opened his eyes to this i don't know maybe maybe not if you recall he was selling nfts to fund his campaign he's been doing this for the past couple years at the very least and this is also the guy that said some time ago i'm not a fan of bitcoin which

is not money and whose value is highly volatile and based on thin air unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activities. He also said, we only have one real currency in the USA, and it is stronger than ever, both dependable and reliable. A lot of water passed under the bridge since then, so he may have opened his eyes to Bitcoin, or, I don't know, could just be pandering to a group of people that may push him over the edge

in terms of getting elected. But one thing is, Bitcoin is for everybody. And it's also for him if he wants. But as for this news, this is a long-winded way of saying this, Joey. For me, I don't give a fuck. I'm still buying Bitcoin regardless of what Biden

or Trump says. So what he says with respect to bitcoin mining i don't give a fuck i see i think you should and uh i'll tell you why so let's let's back up a little bit when people say like you know what would a trump presidency mean for bitcoin and you know a friend of the show david bailey, talking on his timeline a lot now about Trump's campaign. Clearly, he's the man in their corner, at least one of the people in their corner when it comes to Bitcoin policy and Bitcoin rhetoric. To your point, let's not get ahead of ourselves. I think David also wrote the RFK speech a few years ago for the Bitcoin conference, right?

That was the word around town. I have no idea. I've not confirmed it. You know, he's not confirmed it himself, but that was the word around town i have no idea i've not confirmed it you know he's not confirmed it himself but that's the word so you know he he's um he's talking to the right people he has the ear of a lot of prominent politicians that's good i would say it's a good thing when when people say you know what would a trump presidency do for bitcoin to go back to where we started here excuse me i got a little bit of a burp coming, but it's not coming out. Do it, man. Just fucking tap your back. I can't get it out. I can't, I can't really get it out. I didn't bring the fizzy water today. It's

just regular water. Anyway. So when people ask, they, they're looking at stuff like, well, he's talking about self-custody in rallies. He's talking about getting rid of cryptos anti or the anti-crypto army from Liz Warren. He's talking about making sure there's no CBDCs. Now he's talking about Bitcoin mining and all Bitcoin being American or being made in America, whatever that means. I don't think he really knows, but that's okay. Those things are good for Bitcoin, for sure. And there's not been a similar stance or a similarly clear statement from the other party. There's no doubt about this.

The thing I would say to people is you want a Republican president because it immediately takes the wheels off Liz Warren and her pals as far as getting in the way of banks custodying crypto, for example, Stab 21 or whatever that bill is. It immediately neuters guys like Gensler, probably removes him from his post, and ensures that he doesn't become the Secretary of the Treasury, which is the word around town.

That's the job he wants. When you can do that and get rid of two, what have become major roadblocks, I think, to competent and fair Bitcoin policy in the United States. That's huge. You only get that with the Trump presidency. You don't necessarily get it with an RFK presidency. You certainly don't get it with another Biden presidency or whatever Democrat candidate runs. So that's good. As far as like, should you care? Yeah, I think you should care. There's a quote that I don't remember now that basically is,

the gist of it is if you ignore politics, if all good people ignore politics, then those good people wind up being ruled by morons. And so ignoring politics is sometimes to your detriment. Now, I've been vocal over the last few years about engaging with politicians who seem not to be interested in playing fair with you. I think that that holds true. But what I see here is a guy who is a square dealer. I think Trump is a square dealer. Now you may like him or not like him. I personally think the guy's pretty funny and he's a pretty good politician. So fine. He's engaging with you on your level. He's talking with not only David Bailey and some others, but also then the miners were just there too, talking with his campaign. Iris Energy, among others, talking to Trump and

his people, presumably about energy policy and mining policy and the importance of Bitcoin. I don't see, like we've had this view for a long time outside of politics that this thing is unavoidable and all the countries that embrace it and try and get behind it will benefit so greatly from doing so. And being one of the earliest adopters, as far as nation states, the U.S. has been reluctant to say the least. It's probably too soft a term. And now it seems like the candidates are warming up to it. Now, to your other question about why are they warming up to it? I think there's two reasons. One, which is something we talked about a while ago and other people have said since

and probably before as well. You're not going to win anyone over by telling them that you are anti-crypto. No one who doesn't have crypto cares enough to vote on those lines. But you will lose people by saying you're anti-crypto. People who have crypto have enough of it to vote along those lines. And so the presidential candidates in both parties are understanding that this is important. The second reason they're doing this, and I think this is maybe a 2A and 2B, is there's a lot of capital there. You're seeing guys my age, and I'm not a big fish by any stretch, but I have way more money to give to a political party and way more

influence in my friend group than someone who's not a Bitcoiner. I'll tell you that. And I think you're probably the same in your friend group. You have a little bit more weight to throw around. Why? It's not necessarily even just a matter of capital. It's a matter that you've been right. And you've probably been right not only about Bitcoin, but about a lot of other stuff too. And whether the Democrats admit that, I'm sure there are some internal polling data, some internal polling data somewhere that indicates that, yeah, these people who are Bitcoiners have an uneven level of sway in their friend group. It goes to politics, it goes to relationships, it goes to all these other different social outcomes, and voting is one of them. I think that's 1A. 1B is that, Len, there's just tons of us now. Coinbase says that something like 50 million Americans have an account. Now, do all those people care that much? Do they want to issue voters? I don't know. But man, it seems to me like Bitcoin, and this is sort of a sentiment check,

we're consolidating here at 65 or 66,000 and you're just a little below all-time highs. The presidential candidates are talking about it. The dollar continues to weaken. The Eurozone is under attack. To me, all this stuff leans bullish anyway. And still, the average person is not really thinking about Bitcoin. But they're going to start if they're not thinking about it already. They're going to start pretty soon because the price is going to continue to rise. And they're going to watch other assets other assets underperform Bitcoin as they always do.

And it'll become not only an election issue, but an issue that people talk about just as part of their broader set of interests. It's going to be part of the conversation you have with your neighbors, part of the conversation you have with your mechanic, part of the conversation you have at your father's day dinner. We talked about Bitcoin yesterday. My dad was over for father's day. We talked about it. I think it's getting bigger and bigger. And the sphere of

influence that's being absorbed by Bitcoin and Bitcoiners is growing. And you can't ignore that. You really ignore that at your own peril. You don't want to turn off people who have a disproportionate amount of influence in their friend groups. And certainly, Len, the one thing that both parties are looking for are young people who are typically less than enthusiastic as far as voter turnout and apathetic when it comes to which candidate they support. These people don't answer surveys. They don't take phone calls about their preferred candidates.

They're hard to reach unless you like Bitcoin. You can get 50 million more people to listen to the rest of your platform if you'll meet them on the Bitcoin side. So I expect this to continue. I'm really excited about this. I don't know, and I see people in the chat. I'm not going to mention some of these things

that are in the chat, but I can see, yeah, is Trump the perfect candidate? No, of course not. Okay, everyone knows that there is no perfect candidate. But to say that we have to be voting against Trump or ignoring this election when clearly one party is pro-Bitcoin and pro-crypto and the other party is anti-Bitcoin and anti-crypto, that's a dumb take. Don't be stupid.

Don't be tribal to the point where you're not voting for the guy who is clearly going to at least entertain supporting you once he's in the White House, or at least has the smarts to pretend he's going to entertain it. The other party doesn't care at all. I think you're missing an opportunity. And also, Len, the one thing I think that we've had trouble with over the years, and I know I've had trouble with over the years, and I know I've had trouble with this, I'm sure you have too, and we run a show. People listen to what we have to say every week. I can't get my brother to listen to me about Bitcoin. I can't get some of my friends to listen to me about Bitcoin. But once it becomes part of a

political conversation, you wrestle people's jimmies that way. And, uh, whether they're engaged because they're, you know, looking for an argument online or they're engaged because they want to know more about Bitcoin, you can lead them to the, uh, to the Bitcoin trough now in a way that was maybe a little bit more difficult a year ago. So I think this is, this is all good for me. Am I going to buy more Bitcoin? Cause Trump is talking about it. No. I mean, I'm buying no matter what. I think the outcome is sort of preordained at this point for the big orange. But, you know, I think a lot of people are going to look. I do care. I know I do care.

Because it's not changing anything for you. Your buying habits are changing. It doesn't change my buying habits, but it does change the way I engage with people. It does change the way I engage with people. The most important thing that you have is your buying for me that is yeah yeah but i don't think it's changing nothing is changing i don't think it's fair to say that it's not doing anything people proof is in the pudding if you're not buying any more any less given this announcement nothing has changed you don't give a fuck you need to talk more people but the thing that really

matters is your time yeah but nothing like nothing in the money that you have nothing would change the level at which i buy like i'm fully every chance yeah so like it's not like i don't care it's just that it doesn't matter like exactly that's exactly it not caring and it not mattering are different things, right? The mattering we'll find out over time that depending on, because number one, accelerate. Accelerate, accelerate, accelerate, right? So we should always go with the acceleration. Anyways, but the second thing is the group of people

that he was talking to, Bitcoin miners. Yeah. Isn't there some sort of history here to 2017 New York agreement? We had the tap roots of rollout where they did a trial. Yeah, man. My hopes aren't high that their best interest is...

They're not Bitcoiners. They're Fiat maximalists. They're there to make a dollar. They're not there to push the Bitcoin agenda or to push Bitcoin. They're there to mine Bitcoin with the energy that they have and with that, get money. That's it. That's what Bitcoin mines, especially publicly traded ones. There's ones that are doing it.

There are probably some non-publicly traded ones that have the Bitcoiners' thoughts and minds. But the publicly traded ones, nah. And that's what we're talking. Yeah. The publicly traded ones. Nah. And that's what we're talking about here to publicly traded ones. And we'll see what, you know, historically we've have examples that they're not aligned with us. They're a very important part of the triangle here.

Yeah. You know, you have the developers, Bitcoin developers, you have miners and you have node runners. So of that triangle, the miners are a very important part of the whole system. But they're not the only thing.

And sometimes their interests aren't aligned with everybody else. Thankfully, we have node runners out there to keep things in check. Yeah. Okay, good. That's a good conversation there. Bitcoin is political now. You know, I think to your point about the bingo card, this is way earlier than either of us thought. And we're as bullish as it comes, right?

I'm willing to admit, yeah, I didn't expect this. But we have lots more to talk about. Sure. Can I take my hat off? Are we done with this hat? Yeah, take it off. We'll talk about MicroStrategy next. Do you have the MicroStrategy shirt or hat on that you can put on?

And I'm not a big enough shareholder to have one now. I gotta talk to mike get mike to send me one mike if you're out there buddy flip me a hat flip me a shirt i'm ready because they're buying more bitcoin they said right yeah i'm not sure if you said they had initial announcement saying that they're gonna buy 500 million dollars of convertible senior notes that's going to be used to acquire additional bitcoin and also used for general corporate purposes i don't think they're going to be buying cold cards under the general corporate purpose i'm pretty sure that they don't self-custody their bitcoin and the honor of that goes to both fidelity and coinbase if i recall correctly but yeah it's a topic for another time but but for some reason they

weren't satisfied just with that 500 million dollar initial purchase or at least that they said they're going to be because they probably asked every employee to check the pockets of the coats under the car seat in between the sofa cushions because with that they found another 200 million dollars so it's now 700 million dollars that they're going to go ahead and buy a bitcoin instead of the initial 500 million and that happened in a very short period of time i suspect the feedback from that initial announcement must have been phenomenal to make a change so quickly um and as for people wondering how much bitcoin this is going to buy it's likely going to be in a range of around 10 000 to 11 000 bTC. And that's in line with some recent buys

because in March 2024, I think they bought 9K and 12K, if I recall correctly. So it's kind of in that. So they're banking with this purchase and all their other purchases that the price of Bitcoin is going to go way higher than what they're paying

in just the interest of this debt. So when I mean way higher, to go way higher than what they're paying in just the interest of this debt so when i mean way higher i mean way higher because there's going to come a point in time that mstr is going to decide to start selling bitcoin because they're not going to be hodlers forever right nobody is so once they do decide to start selling even a little little bit i think the market's going to react unkindly and that could be potentially an epic dump in the price of Bitcoin. Maybe not. Potential is there. But either way, the CBP approach for all this, we've been buying Bitcoin without debt. So time will tell which is the better mechanism to do it. Either the CBP method, no debt or MSTR using debt. Either way, two different ways of buying Bitcoin and adding it to the balance sheet. Time will tell which is better. I'm not equipped to discuss the MSTR debt strategy. Our boy SB

is. He'll talk about that tomorrow. Here's a question for you, just because I am interested in hearing your opinion. What matters more to Bitcoin and the success of Bitcoin and Bitcoiners or whatever? The Trump stuff or the MSTR Bitcoin strategy that you can go back to the first buy if you want or whatever buy, which one is more important? I would argue that the MSTR one. You would. I knew you were going to say that, but I disagree.

But tell me why. It's an individual, like a corporation is an individual without voting rights, really, but they can't vote for an election. So it's basically an individual that has purchased Bitcoin. And that's what really Bitcoin is. It's buying it, holding it, using it. That's Bitcoin. And so you have a very powerful individual, in this case, a corporation that has a lot of capital behind it, parking a lot of their wealth and also debt and buying up Bitcoin. That is a telling statement.

And other companies are doing the same thing. We'll talk about that in a bit. But that is a big statement that shows that there is faith in it. They want to hold it. And other companies are going to follow suit moving forward. And that's what we want to see. Okay. Yeah, I don't know if i agree i i hear

what you're saying though for sure there's there's something special about that and there has been something special about it i mean he gets hype every time i don't know if you've been paying attention to the mstr stock price it's kind of lost some of its beta on the downside really yeah saying this sb today that when bitcoin drops like it did today to whatever 65 or 64 i don't know how low it got but uh mstr was only down like two or 3%, which is weird because it's still getting amplified upside, but it seems like the downside has really been muted over the last couple of months. So I don't know why that is. Is it because the market is figuring this out and they realized that selling into Bitcoin dips is actually a bad idea? I don't know. I'm not

really sure, but I'd be curious to hear. I'm looking forward to hearing what SB says tomorrow on that because I think it's important that this is changing. And then also, like we talked about before, these other companies that are doing similar, although not quite as large and not quite as debt-fueled strategies as far as treasury asset and Bitcoin,

they've seen a lot of growth too in their stock price. And to me, it's, I me, the MSTR thing is funny because, man, neither of us really actually trust Saylor, do we? We talk about this all the time. He comes up with the digital ID thing or talks about how Bitcoin is not a medium of exchange and he wants to ossify even though he doesn't really say it. I don't really trust him. I don't think you really trust him. And yet both of us seem to hold like the MSTR buys in somewhat high regard. It's weird.

There's like some kind of incongruence there. And I'm not sure what to really make of it. I have no problem with what they're doing. If I would have a problem, I'd be picking on debt to buy Bitcoin. But I guess that's one way to really stick it to, to fiat currency and the systems in which they could operate within that. But aside from that, for them,

I have no problem with them buying Bitcoin. I'd prefer them to, to self custody it. That'd be a good way to show initiative and how to properly do it rather than relying on a third party to hold on to Bitcoin. But I don't know the internals of all this. so it's hard for me to truly criticize exactly what's going on there but at least i could have a point of view and that is it and in terms of what they're going to do with their bitcoin that's a totally different topic altogether though and i touched

upon it they're buying bitcoin eventually they're going to have to sell or trade that for some good or service right like they're not going to hold on sell or trade that for some good or service, right? They're not going to hold on to this forever. Nobody takes this to their grave. And MSG is probably not going to do the same. There's going to be a point in time, somewhere in the future. It may not be in my lifetime. It may, may not.

I don't know. But I can't see them holding on to this to the absolute end of time. So when did they decide to start parting with their Bitcoin? Not sure. What happens with the market? That's going to be... Why do they have to part with it i mean i don't plan on selling i plan on either using it as collateral for loans don't trigger the tax thing or you know some other method i don't know we'll see tgem in the chat uh mstr gave early notice on its 2025 notes triggering the repayment or conversion of 650 million in notes that's way over my head but uh sounds like important information well let's go on there's still so much to talk about because we can stay

on the topic of publicly traded companies that are buying up more corn and meta planet well remember i said don't commit this name don't bother committing this name to memory i was wrong well that was they're proving me wrong enough almost on a bi-weekly basis they announced this past week that they are gonna buy or they have already purchased another 23 bitcoin and that's worth 250 million yen or about 1.5 1.6 million dollars us so that brings up to their total bitcoin holdings to around 141 or almost a little bit less than $10 million in total. The stock price jumped at the news, but it's since settled down. So if you look at that, this was last week it was announced.

The price went up significantly, but it kind of settled back. But still on the week, it's up 7%. So that's still a pretty good gain if you're a shareholder in some shitty zombie company out there you got to be pressuring them to buy bitcoin and pump up the price of the stock right like imagine if gamestop for instance did this that like just based on what's going on in the past week that would single-handedly elevate the stock market the gdp and even the job numbers after revisions it would elevate all this shit. It's just a matter of time, though, because we see all this stuff happening.

The more companies start doing the exact same thing, announcing that they're buying Bitcoin and adding it to their balance sheet. We have several examples now of positive feedback from the market. What's holding them back now? It's just a matter of time. It's risk of ruin, right? As far as your career, basically, is all that's left. Man, I don't know.

It's so frustrating to watch companies like GameStop. We talk about a lot, right? He just had his earnings call today, and they went down the DEI rabbit hole, and we're maximizing profit. We don't care about the hype. If he had just said, we're going to take 5% of the cash flow and buy Bitcoin or 5% of the debt that we just issued and buy Bitcoin, the stock would rip 50%.

What if they said they bought a million dollars worth of Bitcoin, which translates to what? Like nothing, basically nothing, right? Right. Would that still have a significant impact? I think it would have a significant impact. Yeah, yeah, yeah. And it's very little skin in the game.

Do you think that you're going to see... I mean, we talked about Cult, Mark Binns' new synthetic meat company, Hold Your Tomatoes. Do you think there's a chance that we see another company do this before the end of the year? For sure. Do you think for sure? I'm not 100%. Yeah. I don't share your enthusiasm. I think it's probably really unlikely. Because the other thing

about those small caps, Len, is people who run those companies, these serial entrepreneur types, they only get so many swings and misses. And if they are one of these guys who want to buy Bitcoin or add it to the treasury or whatever, and it doesn't hit the way that it did for these other companies and the company flounders or they have trouble with cashflow or whatever, they don't get another shot. And so it's really the mega majors that can afford to make these mistakes, whether it's in product development or in HR or whatever, because they just have so much runway and such a comfy sort of moat. Right. But these little companies don't have that. So they've been successful so far, but it only takes one of these companies to not be successful for the whole

thing to fall apart, including probably the ones who've already done it. Meta planet. And, uh, what was the other one? I forget now the name of the, uh,

technology is defy. That's the one. Yeah. Yeah. So I don't know. I'm adding a thousand right now. It's not like this is just, we're sending uh some no i know hitter no you're right this isn't mcgoza going up there and just hacking away and it just yeah this is we're sending tony gwynn over there and

he's just hitting time and time again getting on base even though yeah you're putting the best picture he's he still gets you uh similar is another one who did it so you get defy similar and meta planet recent memory and they've all been so that i'm trying to say those zombie companies out there that fucking they have nothing to deliver they're just a leech why wouldn't one of them decide oh you know i'll just fucking um i'll sell some shares right like let's dilute but you know at the same time it it's probably going to fucking pump the price and it'll look like a god. And it doesn't take much. It just takes one guy or gal that's long in a tooth,

probably going to retire in the next little while. And it's, I got to do this. This is going to be my legacy and go from there. That's maybe where you see it. Yeah, that's where we see it. Who's buying these shares, by the way? Like, who's, like, how is the stock price of these companies pumping so much?

Isn't it just algorithmic buying? You know, they see Bitcoin in a press release and they buy up a thousand shares at any price, 10,000 shares at any price. Do you think that's it? I do. I really do. Cause cause like Bitcoiners are not buying shares of similar scientific. They're not.

Bitcoiners are not going to the fucking TSX. How many Canadian Bitcoiners are there? Not many. They're not going to the TSX and buying up shares of DeFi technologies. They're just not. Bitcoiners are not going to the fucking TSX. How many Canadian Bitcoiners are there? Not many. They're not going to the TSX and buying up shares of DeFi technologies. They're just not. So the money is coming from somewhere. I would guess it's algorithmic trading. That's my answer.

If it takes advantage of that, why not continue to take advantage of it until that advantage is wiped off the books? So that's why I'm looking at it this year. We have six more months. There's going to be one more, at the very least. One more. Public-ag's going to be one more at the very least one more company doesn't have to be united states doesn't have to be canada could be anywhere because uh meta planet is a japanese company traded on the stock market over there so it could be something similar another company that's maybe in japan they're upset with what's going on with the end it's lost 20 40 sorry 40 of its value against the united states dollar in two years and they say fuck this i'm done with this i'm gonna just buy something which is not gonna erode at the same pace and they start buying bitcoin it's possible and not just japanese could

be anywhere else like i don't know it could be a european company who the fuck knows but either way talk about brains and this past week they released a new piece of equipment. And this was unveiled at the Bitcoin event in Prague. And this new piece of equipment is called BMM100 Mini Miner. The specs are interesting. It's the terahash. It's one terahash. The power consumption is 40 watts so

easy math 40 watts per terahash so that's not too bad i mean it's much more efficient than an s9 price is 199 us dollars and the checking it out checking the specs the outlet temperature is 40 to 50 celsius so yeah it can be certainly used as a space heater especially given what the outlet temperature is if you want one you're gonna have to wait because you have to go on a pre-order list they had 100 units that they brought for sale to prague all 100 were snatched up on the first day it's a cool little device if you take a look at it there's a screen that gives us some statistics. And they call it a small, silent, and simple plug-in anywhere in your house and forget about it with a sleek design.

And it says you can become a plug miner without worrying about high electricity bills. And it's going to be going up against the BIDX. So it's going to be a direct competition for one of these small mining that you just plug it in and go from there. It's good to have another option available and if you are doing some space heating with an s9 considering this this is probably more efficient however it will take you a long time to earn back the roi and this i think is like decades 199 based on and it only gets worse because you know more miners get plugged in the network and efficiency sorry uh uh it gets more difficult to mine bitcoin and having so forth but either way

it's just it's a cool thing and it's more just a lottery ticket than anything else yeah uh i have some inside information on this if you want it a source uh close to brains tells me that it actually does up to 1.3 terahash and has the uh brains bcb 100 control board in it so compared to the bidax no firmware in the bidax brains obviously has the firmware there less hash rate and uh a lot more a lot more firepower in this thing plus i really like the way the bidax looks i don't want to talk about the BidX. The BidX is more efficient though. Yeah, it is. If you look at watts per terahash, it's way more efficient. But I really love the way this

Brainsminer looks. It does look cool with that little screen on it. Yeah, it's nice. Really nice. Aesthetically, it's phenomenal. I think you're going to see one at my house in the next few months. I talked to GandOffice. I wanted them to buy me one, but they were already sold out at the vendor booth in Prague.

Yeah. So, yeah, too bad. Yeah, I'm definitely going to get one. I really like it. Okay, for people on Twitter, I see David Bailey in the chat there and anyone on Twitter. I can see your comments. I can't reply to them. So, come to YouTube, I guess.

Even though YouTube fucking sucks, Twitter's face is a lot better way to watch the show. But anyway, yeah. Are you thinking about buying a Bidax or uh you're not a you're done with the mining stuff yeah okay no i only set it up for a friend that's it i wouldn't recommend mining because yeah you do that it's all reportable right so don't uh if you are gonna get a bid axe don't plug it in just leave it there as a shining piece all right because you got to report that's too decorative decorative yeah yeah that's my opinion let's talk about ledger sure and ledger users i think it's time for you to wake up if you are still using a ledger device this was posted on reddit by a user by name of FL Squirtle, Florida Squirtle. I don't know either way. FL Squirtle. He shows that screenshot of the Ledger app on his phone. And with that, the Ledger app is doing something

interesting. It's asking for permissions for his location. Very interesting. So three questions come to mind initially. Why is the app required to give any sort of location information i don't know why second why is anybody installing an app a ledger app on their phone and third why is anybody using a ledger those three questions i i don't think i'll ever get an answer to but someone noted that the location info may be needed for certain third-party features that it's built into Ledger Live app. For example, if you're going to buy or sell, say, Bitcoin or do some sort of swaps, the location is needed because of restrictions in certain countries. But come on, man.

Like, do yourself a favor. Don't use this trash. We talked at the beginning of the show. Air gap your stuff. That's the best way to do it. And if not, well, information is going to be passed on why would you want this information to be passed on this is your information to keep you could remain private but if you choose to do so do it at your own risk i think that there's also a bluetooth i'm just

looking at my phone here trying to see if there's um like any warnings about this i obviously don't have the ledger live app but you but I'm pretty sure that some apps, if you use Bluetooth connectivity to connect out to another device, it does want your location if there's an app. You know what I want to check, but I don't have my...

I have a Jade somewhere. I don't know where it is. The Jade would be a similar requirement, I bet. Because you have the green app and the piece of hardware. I wonder if it wants your location to use that connection. I don't know if it's for everything, but I know that there's some stuff going on there. Yeah, D in the chat, Bluetooth is a huge security hole. I agree. I mean, you shouldn't use Bluetooth for anything. If you're at a public gym and you're using Bluetooth for your headphones,

fine. But otherwise, it basically should always be off. And your Wi-Fi, if you're not at home, should always be off. Just don't expose yourself to this stuff. I feel like we're doing Axis of Easy now instead of CBP. Don't turn this stuff on because it just gives you an opportunity to get got. I don't know why you would do this. Ledger continues to impress in the ways that they manage to innovate data insecurity for their users just never ends with these guys like what a fall from grace everyone i know had a ledger the i2 had one yeah the hardware looks awesome it works well the ui is great but they just keep fucking doing the wrong thing why they're like have you ever seen a first mover like this

fumble the ball so badly there was no on the market oh blackberry yeah that was a bad one that guy you know in his defense got distracted by trying to buy an nhl team but um you know i've never seen something like this in uh in the electronic space i realize bitcoin's a bit different the bar is probably a little higher because people here are a little more well-informed but man just everybody had one of those things there was basically no other option for so long and they just now are like pariahs basically let's talk about t-mobile and t-mobile that's maybe the last story we could talk about sure that's not sure you must have saw this news right from i sent it to sb we'll be talking about this tomorrow, too. Okay, so I'll give a brief rundown, and SB could give a better overview of this.

Because T-Mobile's parent company, Deutsche Telekom, Deutsche Telekom, either way, they said they've been running a Bitcoin node since 2023. And the first time I saw this, I was like, what the fuck is this all about? Why just run a node, and why this company? They also mentioned that they're running a bitcoin lightning nodes or actually it's plural bitcoin lightning nodes so are they

going to start accepting bitcoin as payment like i don't know but they also had another announcement too that they're going to also get into bitcoin mining they said they're going to engage in digital monetary photosynthesis soon very cryptic that's going to be a translation issue anyway the stock price did it was impacted by this news didn't move yeah it was it was flat and so the question remains why are they interested in Bitcoin mining? Do they have access to some cheap electricity that they can't already monetize? Or do they need something to provide a load to an energy generation station? I don't know. There's questions here I don't have answers to, but I did some digging.

I also found that Deutsche Telekom has been a validator for the Polygon network since 2023. Really? And also, Deutsche Telekom, up to the time, they said they will be supporting Polygon staking. And in later 2023, they also said they were running a validator for Ethereum. So T-Mobile also reported in September 2023 that they were involved with the launch of Helium Mobile. That is a 5G wireless service that allows users to earn rewards

in crypto staking for sharing data. So there's lots here to digest, lots here to unpack. I don't know what the fuck to make of this. Shitcoiners turned Bitcoiners? I don't know, but Helium Mobile, Polygon, Ethereum bitcoin like it's we're talking about defy technologies here or something right just a smaller version that doesn't deal with telecom

but anyways i i'm not gonna take make a lot of this getting into the bitcoin mining i'm that's somewhat interesting i'm curious like how and why they're gonna do this what's the rationale and what they plan to get out of this aside from just simply revenues but yeah it's just something notable at the very least i mean doesn't this fly in the face a little bit of your thesis from earlier that anything bitcoin related pumps the stock they didn't buy bitcoin they said they're going to be they run a note and they're going to be doing bitcoin mining if okay If Bitcoin mining was going to pump a stock, then all Bitcoin miners would be

massively overpriced. I don't know. I'm curious to hear what SB thinks about this. I think the thing that he mentioned to me, I won't cannibalize the show too much, but in Telecom, which is his wheelhouse, the expectation is that when you have free cash flows, you put

them back into stuff like hardware to help your network. And also in the States, although I'm not sure if it's like this in Europe, but in the States, when they have the band auctions, they expect you to have some cash flow available to buy, to improve your network vis-a-vis the band auctions every few years. So it's not really viewed by the telecom community. Is there a telecom community? There must be. SB is a part of it. I'll have to ask him this tomorrow if he's got a badge or something. It's not really viewed as a good thing to be deploying cash flows into stuff like Bitcoin.

But it's also not a good thing to be deploying them into Bitcoin miners. So I'm not surprised the stock didn't move. You just talked about this and I agree with you. Mining is not really great business. Again, we'll talk about this a bit more tomorrow. I don't think mining is really great business. So I don't know why they would choose this. And then the validator thing, that's a bit out of left field. I realize you said they're doing validating for Polygon. Helium is a total flub um sp talked about that many times uh over the last few years with us but uh yeah i mean this is like really bizarre news it just doesn't it doesn't fit the business at all you know and they're not doing the easy thing like you said the buying bitcoin right that's the thing

that pumps the stock instead they're doing the hard stuff that's really difficult to monetize, mining and lightning nodes. I don't know. They got some old laptops or something. They're just firing up nodes for the hell of it. Is that it? So with respect to a Bitcoin node, really, that's not going to be a game changer. Setting one up, right, an old laptop. There's very little overhead.

There's very little over. So just, right. Lightning nodes require a little bit more because you have to open and close channels so clearly they have on-chain bitcoin which then they've moved to lightning to open and close open channels for their lightning nodes plural so they had to have bought bitcoin but how much it's it must have been so small that it's not worth reporting. Breaking news here on CBP. Just connecting dots.

Yeah, they must do. you're right. Right. Like, but they probably, you know, they went to bull,

bought, you know, $300 worth it and open up, open up a, I don't know, whatever you can get for 1 million. I love it. That's what you want to open a channel,

at least 1 million sacks. Anyways, Joey, that's it for the Bitcoin related stuff. Let's see. Let's GTFO. Let's go to the other stuff. We've got a channel, at least 1 million sacks. Anyways, Joey, that's it for the Bitcoin-related stuff. Let's GTFO. Let's go to the other stuff. We've got a lot of notable stories, I'm sure. Notable stories flowing yesterday at the table for Father's Day.

Anyway, stay here if you're on audio. Wait till tomorrow if you're on video. Yeah, like I said, hang out. We'll be right back through the magic of video and audio editing tomorrow for you. Take care of yourself. Don't be a cock. Are you a fan of the old school NHL 94 game on the Genesis or SNES? Why not check out my show, the NHL 94 podcast from tournaments and tactics to the people who make up

this community, check it out wherever you listen to podcasts or find it on YouTube.